Goldman Sachs is bullish on Japan right now and says banks in particular are seeing a "high level of interest" following rallies of around 30%.
" "We certainly think there is more upside from the current valuation," she added, compared to the 0.9 to 1 times price-to-book levels that Japanese banks were trading at in 2015 before the Bank of Japan's negative interest rate policy. A price-to-book ratio captures a firm's market capitalization levels against its book value. A ratio below one is generally viewed as a good investment by investors looking for value.
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